TechGuard Security LLC, a woman-owned startup in Baltimore County, is launching its first product for the international market. Bandura Box cybersecurity software will be available through the Catonsville startup or its new wholly owned subsidiary
Bandura LLC.
“We are still incorporating features needed for an international market and learning the import/export laws. No price has been set,” says Bandura and TechGuard CEO Suzanne Magee.
TechGuard provides cyber services, products and training, and research and development to protect and support national initiatives, including the defense, financial, healthcare, retail and energy sectors. Customers include a large financial organization in Chicago, regional banks, a grocery wholesaler, technology companies and members of the nuclear power industry.
In 2000, Magee founded TechGuard in St. Louis, Mo., where it still has an office. In 2004, she relocated the company headquarters to Maryland to be closer to federal government clients and because the state encourages entrepreneurship.
“I have locations elsewhere but Maryland is unsurpassed for entrepreneurs in the country. I found a system and a network of talent and financial backing,” she says.
Magee is opening a TechGuard office in Oklahoma City, Okla., in June. In 2010, Magee moved TechGuard into the incubator bwtech@UMBC Research and Technology Park.
TechGuard produces security products that uses a security perimeter defense to block Internet addresses from a particular country with the click of a mouse. Magee says she is focusing on two products: Bandura Box and a product for the domestic market called PoliWall. Priced from $5,000 to $50,000 depending on capacity, PoliWall is sold through TechGuard and Bandura.
TechGuard has a staff of about 100, nearly half of whom were hired earlier this year. Bandura has a staff of five. Magee is looking to hire an additional 20 staffers -- cybersecurity professionals, preferably certified in various cyber specialties – to be split between the two companies.
TechGuard is privately financed. For Bandura, Magee is considering partner-investors and/or a financing round to raise approximately $2 to $5 million in the next six months to further PoliWall and to reach a global market for Bandura Box.
Source: Suzanne Magee, TechGuard Security LLC and Bandura LLC
Writer: Barbara Pash